| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 09:00 | Switzerland | Credit Suisse ZEW Survey (Expectations) | December | -29.6 | -26 | -23.7 |
JPY depreciated against other major currencies in the European session on Wednesday as a summary of opinions at the Bank of Japan’s (BoJ) December 18-19 meeting revealed that rate-setters predominantly support the view that the Japanese central bank should patiently continue its ultra-easy policy.
The policymakers, however, noted that it is important to continue to deepen discussions on issues such as the timing of the exit from the current policy stance and the appropriate pace of interest rate hiking but emphasised that a virtuous cycle between wages and prices needs to be confirmed before considering policy changes.
The BoJ policymakers' opinions indicate that the timing of the end of the negative interest rate policy will likely be later than what markets anticipate.